Many countries, including the US, have issued travel advisories to their citizens against visiting Jammu and Kashmir due to the prevailing militancy.

In November 2012, Britain had announced its decision to lift the advisory "in light of the decline in violence".

Speaking to members of the Confederation of Indian Industry (CII)-Jammu and Kashmir Chapter led by its president Anil Mahajan, Abdullah said: "Trade and tourism are the two significant pillars of economy and these complement each other in their growth."

"Holistic development of local entrepreneurs has been flagged as a priority by the government in its industrial development policy," he added.

He said the government would continue to help and facilitate local industrialists to invest in joint ventures, and launch projects in the private sector.